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The Latest Breaking News from Philip Lowe

Why savers are unlikely to benefit much from the RBA rate hikes

RBA governor Philip Lowe jacked up the cash rate by a surprise 50 basis points on Tuesday. But savers are unlikely to benefit much in the short term.

The New Daily

Michael Pascoe: The RBA is hunting down the bezzle

Most of what is pushing up prices now won’t be affected by increasing interest rates – but higher rates will wound the bezzle.

The New Daily

First homebuyers will likely be hit hardest by Australia’s interest rate rises

Analysts warn economic consequences of RBA’s ‘blunt instrument’ attempt to limit inflation will fall disproportionately on outer suburbs

The Guardian - AU

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Reserve Bank hikes official interest rate by 50 basis points to 0.85% to curb inflation

Decision exceeded predictions from economists while Westpac was the first of the big banks to pass on the rise in full to customers

The Guardian - AU

RBA hike due to ‘significant’ inflation

The Reserve Bank of Australia board has raised the cash rate to 0.85 per cent from 0.35 per cent in the face of higher-than-expected inflation.

Crikey

RBA hike due to 'significant' inflation

The Reserve Bank of Australia board has raised the cash rate to 0.85 per cent from 0.35 per cent in the face of higher-than-expected inflation.

AAP

Reserve Bank hikes cash rate to 0.85 per cent

The Reserve Bank has lifted the cash rate from 0.35 per cent to 0.85 per cent in a bid to curb rising inflation. It is the second hike in as many months.

The New Daily

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Mortgage squeeze as Reserve Bank lifts cash rate by 50 basis points

Governor Philip Lowe noted in the decision that inflation has "increased significantly".

Newcastle Herald

Chalmers meets with RBA boss, regulators

Treasurer Jim Chalmers has had discussions with Reserve Bank of Australia governor Philip Lowe and other regulators as he comes to grips with his new role.

Crikey

Albanese supporting real wages could be the most important policy in this election

The way the Coalition and businesses tell it, workers should never get a pay rise because the time is never quite right. After a decade of stagnation, Anthony Albanese seems to have decided to end the farce.

Crikey

Services grow despite sector difficulties

Australia’s services sector grew in April, despite difficulties finding staff and rising cost pressures, but demand may slow as interest rates rise.

Crikey

Laden with ‘world-beating’ debt, Australian households are at increased risk as rates rise, expert says

Policies encouraging property investment have fuelled soaring debt ratio to create ‘big potential problem’, researcher warns

The Guardian - AU

More interest rate hikes are coming, and housing affordability is about to get crunched

Rock-bottom rates provided a buffer to soaring house prices, but that is over. Repaying a mortgage will be harder than ever

The Guardian - AU

Sorry, Scott and Josh, but you do own a chunk of this rate rise

Inflation has been exacerbated by a budget that is pumping tens of billions of deficit spending into a low-unemployment economy.

Crikey

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The Guardian - AU

Shock interest rate rise shows Australia’s economic exceptionalism is fading

RBA’s decision is, in the words of one economist, ‘a radical revision’. Could this turn a plateauing of property prices into a rout?

The Conversation

View from The Hill: The interest rate rise is a political wild card

The Reserve Bank, as expected, has thrown its wild card into the election campaign, but neither government nor opposition can be sure which side will be more damaged, or advantaged, by it.

The Guardian - AU

‘Vote for us because we are not Labor’ is the most unfulfilling call to action in recent memory

After the rate rise blow, Scott Morrison suggested Australians had been preparing for it and had ‘strengthened their balance sheets’. The rhetoric felt ludicrous

The Conversation

RBA Governor Philip Lowe is hiking interest rates. Worst case, it'll mean an extra $600 per month on a $500,000 mortgage

Reserve Bank Governor Philip Lowe has announced he will lift the cash rate for the first time in a decade, by 0.25 percentage points, taking it from 0.10% to 0.35%.

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The Guardian - AU

Paying off a mortgage? Here’s how the RBA interest rate rise will affect your repayments

Rise to 0.35% increases median monthly home loan repayment by up to $118, but rates predicted to reach 2% in a year’s time

Crikey

Up, up and away: home owners face a year or more of rate rises as central bank bites inflation bullet

The Reserve Bank has lifted interest rates for the first time since 2010, and thus inflicted serious harm on Scott Morrison’s economic credentials.

The Guardian - AU

Reserve Bank interest rates: RBA lifts official cash rate to 0.35% in first rise since 2010

Central bank raises rate by 0.25 percentage points in a move that will stoke cost-of-living debate ahead of federal election

AAP

RBA lifts cash rate, warns of more to come

The Reserve Bank of Australia board has raised the cash rate by 0.25 percentage points to 0.35 per cent following its monthly board meeting.

Crikey

RBA lifts cash rate to 0.35 per cent

The Reserve Bank of Australia board has raised the cash rate by 0.25 percentage points to 0.35 per cent following its monthly board meeting.

The Guardian - AU

Interest rate rise: who makes the high-stakes decision and how does it get made?

The RBA is considering raising the official cash rate for the first time since 2010 and the outcome will have big ramifications for the federal election

The Conversation

Grattan on Friday: Managing post-COVID a delicate balance for Anthony Albanese

Philip Lowe mightn’t be a household name but the Reserve Bank governor finds himself catapulted right into the centre of this election campaign, in which events are proving more important than policies.

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